(Reuters) – French video game maker Ubisoft on Thursday reported net revenue in line with its forecast for the third quarter, at 726.9 million euros.
However, this is a drop of 2.6% year on year for the company which maintained its forecast for the largest operating loss in its history of around 500 million euros in 2022-23, citing the impact of the macro-economic environment on the video game market and the company’s performance.
The video game market is expected to fall 4.3% in 2022, according to estimates from research firm Newzoo.
“As we focus on building our strengths, we are prioritizing our efforts on big brands and long-running Live games,” said Yves Guillemot, co-founder and CEO of Ubisoft.
Ubisoft said its line-up for the next fiscal year would include Skull & Bones – first revealed in 2017 – Assassin’s Creed Mirage and Avatar: Frontiers of Pandora.
($1 = 0.9365 euros)
(Report by Enrico Sciacovelli, Dina Kartit, edited by Matthieu Protard)
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